Switzerland inflation slowed more than expected to the lowest point in 15 months. The consumer price index fell 0.5% after a 0.7% decline in previous month, which helped to lower the annual rate of inflation to 0.7% from 1.5% in November. The breakdown of the report showed that energy prices dropped another 8.0% following an 8.2% drop in the previous month, while transportation costs fell 1.9% during the month. Falling energy prices have certainly limited the upside risks for inflation throughout the global economy. The alleviating price pressures should allow the Swiss central bank to leave borrowing costs lower longer to counter faltering growth as they expect economic activity to deteriorate throughout 2009.